Alexander-Arnold’s Liverpool side are currently eight points clear of City, and they have a game in hand over last season’s champions.
However, the Reds had an advantage over City last term, only for Pep Guardiola’s side to come back.
And the Liverpool full-back admits that nobody at Anfield is getting carried away by their flying start.
“Last season City won the last 14 or 15 games on the bounce and they can do it again, can't they," Alexander-Arnold said.
“It's hard to get too excited right now.”
Liverpool are next in action later this evening against Everton in the Merseyside derby.
The Reds go into the game as heavy favourites, but the contest will not be without its challenges.
Liverpool are without both Fabinho and Alisson for the match, which is a major blow to Jurgen Klopp’s side.
If Liverpool can get past the challenge of their near neighbours they will restore their healthy lead at the top of the Premier League table, and take another step closer to lifting the title in May.
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